Mn Services Vermogensbeheer B.V. Increases Stock Holdings in Watsco, Inc. $WSO

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Watsco, Inc. by 5.7%, owning a total of 13,000 shares worth approximately $5.74 million as of its latest SEC filing.
• Watsco's stock price on Friday opened at $389.93, with a 52-week range between $378.35 and $571.41, alongside a recent earnings report that missed analysts' estimates.
• The company announced a quarterly dividend of $3.00 per share, reflecting a dividend yield of 3.1% and a payout ratio of 92.02% as of the last announcement.

Mn Services Vermogensbeheer B.V. lifted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 5.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,000 shares of the construction company's stock after acquiring an additional 700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Watsco were worth $5,741,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swedbank AB raised its holdings in Watsco by 3.8% during the second quarter. Swedbank AB now owns 78,585 shares of the construction company's stock worth $34,705,000 after buying an additional 2,854 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Watsco by 45.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,465 shares of the construction company's stock worth $13,896,000 after buying an additional 9,835 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in Watsco by 6.3% during the second quarter. Thrive Wealth Management LLC now owns 771 shares of the construction company's stock worth $340,000 after buying an additional 46 shares during the last quarter. Dudley & Shanley Inc. raised its holdings in Watsco by 56.7% during the second quarter. Dudley & Shanley Inc. now owns 39,833 shares of the construction company's stock worth $17,591,000 after buying an additional 14,405 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new position in Watsco during the first quarter worth $1,459,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the topic of several research reports. Morgan Stanley set a $505.00 price objective on shares of Watsco in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Finally, UBS Group lowered their target price on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Watsco presently has a consensus rating of "Hold" and an average price target of $480.00.

Watsco Price Performance

NYSE:WSO traded up $2.65 on Tuesday, reaching $394.11. 247,514 shares of the company's stock were exchanged, compared to its average volume of 320,451. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 30.22 and a beta of 0.96. Watsco, Inc. has a 52 week low of $378.35 and a 52 week high of $571.41. The stock has a fifty day simple moving average of $424.22 and a 200-day simple moving average of $455.13.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $4.49 EPS. Watsco's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's dividend payout ratio is presently 92.02%.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.